$SOL is facing strong SELLING PRESSURE on the weekly chart, now trading around $82.17... 📉
Look at the recent candles... SOL has been making a sharp move down from the $120 area.
The $98.36 level has turned into an important RESISTANCE after price dropped below it.
Notice the VWAP at $102.95... price is trading well below it, showing weakness.
RSI(6) is sitting at 27.67, entering OVERSOLD territory. A relief bounce could become possible. 👀
The immediate area around $81.34 is worth watching, especially after this sharp decline.
If sellers continue pushing lower, the next major visible SUPPORT is around $60.13.
BUT a recovery above $98.36 could change the picture and open the door for a stronger move upward.
WATCH THE $81 AREA... a breakdown could extend the bearish move, while reclaiming $98.36 would challenge the current weakness. 🎯
Follow for more chart analysis 😎
Look at the recent candles... SOL has been making a sharp move down from the $120 area.
The $98.36 level has turned into an important RESISTANCE after price dropped below it.
Notice the VWAP at $102.95... price is trading well below it, showing weakness.
RSI(6) is sitting at 27.67, entering OVERSOLD territory. A relief bounce could become possible. 👀
The immediate area around $81.34 is worth watching, especially after this sharp decline.
If sellers continue pushing lower, the next major visible SUPPORT is around $60.13.
BUT a recovery above $98.36 could change the picture and open the door for a stronger move upward.
WATCH THE $81 AREA... a breakdown could extend the bearish move, while reclaiming $98.36 would challenge the current weakness. 🎯
Follow for more chart analysis 😎
